Heavily Traded Shares May 9th: BofA, Sirius XM, GE, Ford Motor
Bank of America Corp (NYSE:BAC): BofA’s Moynihan says we’ve done a million mortgage modifications.
Sirius XM Radio Inc (NASDAQ:SIRI): Liberty Media (LMCA) plans to file motion with the FCC to reconsider request for control of Sirius XM (NASDAQ:SIRI), the Wall Street Journal reports. Liberty Media CEO Greg Maffei said Liberty may pursue a spin-off of its stake in Sirius XM, the Journal adds.
General Electric Company (NYSE:GE): Tower Semiconductor’s (NASDAQ:TSEM) TowerJazz unit has signed a definitive credit line agreement with GE Capital (NYSE:GE) to provide TowerJazz’s Nishiwaki facility with a credit line of up to 4B Japanese Yen (approximately $50M). Loans to be obtained under this credit line will carry an interest of the higher of TIBOR rate or LIBOR rate plus 2.6% per annum and will be due for repayment in 2015. Availability under the credit line is calculated according to certain formulas set forth in the agreement and is capped at $30M until June 2013.
Ford Motor (NYSE:F): Ford Motor will produce nearly 40,000 additional vehicles this summer by idling 13 plants, including six assembly plants, for just one week instead of the traditional two.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.